sp'60min
vix'60min
Summary
Not much to say really. Might close in the 1600s, might not.
All that is clear, is that there is simply no power on the downside. Sure we could drop into the 1580s again, but that counts for nothing.
Perhaps the weakness in the Oil market is a tiny preliminary sign for the main market, but that is stretching things, even for a permabear.
Oil does look 'done' on the daily charts...
USO, daily2
Target would be <32 within 3-5 days
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2.20pm..those bears seeking a weak close, should be desperate to see a clear VIX break, with a close >14.50.. and sp under the morning low of 1586. The latter looks especially difficult.